3 Stocks That Are Better Than NIO
NIO (NYSE: NIO) has had a remarkable run, with shares of the Chinese electric-vehicle (EV) maker up more than 1,680% over the past year. This jump is likely due to growing excitement about the ongoing automotive revolution and NIO's role in making it global.
There's great potential in NIO, but the stock has a lot of that potential already baked in. NIO is valued by the market at more than $90 billion, or more than 30 times sales. That's pretty frothy for a company that delivered 43,728 vehicles in all of 2020.
It is certainly possible NIO will quickly grow into that valuation, but investors buying in today need to understand that is not a given. While respecting NIO's potential, three Fools believe Hyliion Holdings (NYSE: HYLN), Ford Motor (NYSE: F), and General Motors (NYSE: GM) are better buys right now, and here's why.
Source Fool.com
